The supply of Class 8 trucks continues to rise faster than demand for trucks, according to the most recent ACT For-Hire Trucking Index from ACT Research Co., LLC (ACT).
“The capacity index [supply] rose faster than the freight index [demand] for the seventh consecutive month and the twelfth time in the past fourteen months in March,” said Kenny Vieth, ACT’s president and senior analyst.
“In addition to ongoing weakness in domestic manufacturing, an inventory overhang continues to exacerbate new freight creation. A return to ‘normal’ inventory levels in the broader economy is the first step to improved freight market performance. However, to date the correction has been slower than expected in coming.”